Quick Summary
The number of income tax returns has increased in FY22 over the previous fiscal, Central Board of Direct Taxes Chairman Sangeeta Singh said on Saturday. Talking to PTI, Ms Singh said the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear growth. There is an increase in the base of taxpayers and the filing of revised returns, she added. The Board is witnessing an increase in tax collection, which usually happens if t
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
For FY22, 7.14 crore income tax returns were filed, an increase from the 6.9 crore filed in the preceding financial year.
The increase in the taxpayer base and the filing of returns suggests an upward trend in the country's economic growth.
Increased tax payments are attributed to the Digital India initiative, a shift towards digital payments during COVID-19, and enhanced taxpayer awareness through outreach programmes.
For FY22, the tax collection exceeded ₹14 lakh crore, which is considered a good figure compared to FY20.
An Updated Return allows taxpayers to file a revised return if additional information comes to light after the initial filing, provided they have paid their taxes.
CAclubindia
